Pendleton Affordable Housing Development
At the last meeting City Council approved another amendment to the Pendleton Affordable Housing project agreement. Previously, the City agreed to pay for 50% of the public road but we were given a credit for the value of our land that we donated to the project. This latest agreement change eliminated the credit. We have agreed to pay for 50% of the road and donate the land. The way the agreement is structured, we will get the credit up front and reimburse him after the 100 new apartments are completed from new revenue created by the property taxes.
This development agreement started the growth in housing that we are seeing now. Nobody knew how strong the rental market was, and nobody was willing to take a chance, until those first 32 units were built. He anticipated renting them for $900/month and now he is getting $1,250. Because of our development agreement, it is in our best interest to see these 100 units finished. (Sidebar: If these 100 apartment bring 50 children into our town, that will equate to $350,000/year in additional funding for our schools.)
In March we project that the City will have injected 10 BILLION gallons of water into the aquifer since we started the Aquifer Storage and Recovery (ASR) program in 2003.
The winning “Shark Tank” idea at MLK day was Off the Hoof. This idea was to attract a butcher shop into downtown Pendleton. The team has now met twice and are working to leverage urban renewal incentives in hopes of making this happen.
The UAS Test Range has a new customer that will pay for services next year in excess of $200,000 and bring another six employees into town. TOTAL rental revenue at the airport in 2017 was $471,000.
Council is seeking a plan to fix our roads. They seem committed to a fix that puts this problem behind us. Expect to see more on this in the news over the next several months.
Robb Corbett, City Manager